Value of University Degrees in Decline for Small Businesses
Survey reveals that small businesses are worried about youth workforce with 54% blaming government and education
75% of small businesses believe degrees have less value than 10 years ago, according the latest survey conducted by Sandler Training.
As current graduates enter the UK job market, the shift in attitude presents a growing concern for jobseekers as 58% of the private sector workforce are currently employed by the small business community.
In addition, although currently graduates and apprentices are almost equal in hiring appeal among small businesses, those surveyed predict that in five years they will be hiring 20% more apprentices but only 7% more graduates.
The survey also revealed that 83% of business owners are worried about youth employment, especially as unemployment rates rose 91% in the North West. However only 24% of those surveyed felt that businesses were accountable for this issue.
In contrast 54% of business owners blame schools and the government for youth unemployment, with over half of the 21% of small businesses who hired youths recently stating they were unsatisfied with the experience, due to an absence of skills (38%), wrong attitudes (35%) and frustration as employed youth didn’t stay long enough (26%).
CEO of Sandler Training, Shaun Thomson, discussed the results – stating that the responsibility lay across the field:
“Rather than tarring young people with the same brush and passing the buck to the government, small businesses must step up and take responsibility. There are so many talented, high quality young candidates entering the market.
“To find them, small businesses must put processes in place to identify the applicants that have the right attitude, who would fit in well with the company culture and can be developed over time.”